How to Start a Successful Podcast Side Hustle: New Analysis

Podcasting is a $25 billion industry, and prime podcasts have so much in frequent — from size to variety of episodes to cowl artwork.

Now a brand new examine by software program firm Podcastle pinpoints these similarities to assist new and seasoned podcasters have a greater shot at producing a profitable present.

The U.S.-focused study used the Apple Podcasts charts to search out the highest podcasts after which studied every week’s value of knowledge, beginning April 15. Podcastle additionally surveyed 1,000 podcast listeners so as to add to the findings.

The examine discovered that “revenue” is the primary purpose Individuals need to begin a podcast this 12 months — and it may be a profitable facet hustle.

Associated: 3 Secrets to Starting a Small Business Side Hustle That Gives Your Day Job a Run for Its Money, According to People Who Did Just That

Jannese Torres, the founding father of the non-public finance podcast, Yo Quiero Dinero, shared with CNBC earlier this month that she brings in a mean of $37,394 month-to-month in income, partly via podcast adverts. A June 2022 Bloomberg report revealed that some podcasters have been making $18,000 a month with white noise.

Here is what else the examine confirmed about prime podcasts and the listeners who tune in.

What Do High Podcasts Have in Frequent?

The examine discovered that the typical size of a prime 250 podcast was 65 minutes. Of these, 68% used the preferred format, an interview, whereas 20% used the second hottest format, a deep matter rationalization.

The ten most profitable genres, so as, are society and tradition, comedy and humor, true crime, information, schooling, enterprise, well being and wellness, improv, private growth, and documentary.

^{Credit score: Podcastle}

The highest 50 most profitable podcasts had hosts that spoke a mean of 174 phrases per minute, with a mean of 58 filler phrases like “um” and “like” per episode.

Podcast intros for these prime performers ranged from 30 to 59 seconds with half including an advert to the intro.

A lot of the prime 50 podcasts (60%) had multiple host. Practically three in 4 of the highest 50 podcasts had not less than one visitor on the present.

For canopy artwork, the highest 50 had extra black and blue colours of their cowl artwork than every other colour and 52% of the duvet artwork did not have an image of the host.

Although every podcast cowl used a novel font, solely 38% used bolded font.

Most individuals who need to begin a podcast are motivated by potential earnings (34%) or by the avenue podcasting provides them to specific their creativity (26%).

Associated: This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be ‘More Attractive’ Than an Office Job

Who Listens to Podcasts?

Podcast listeners have elevated by almost 70% since 2019 and there are greater than three million lively podcasts globally, in keeping with Podcastle.

Most podcast listeners (64%) often tune in on Spotify, with 34% selecting Apple Podcasts. A smaller proportion (6%) use YouTube Music.

The bulk indicated that they returned to a present as a result of the hosts or friends have been entertaining (69%) and supplied new data or views (70%). A number’s experience in a sure matter saved 36% of listeners coming again.

Most podcast listeners are doing one thing else whereas tuning in. Over one in 4 listeners (28%) have been cooking or doing chores and multiple in 5 (22%) have been commuting to work or college.

Listeners indicated that the largest issues podcast hosts ought to keep away from are together with too many adverts or having poor audio high quality. Too many adverts flip off listeners throughout generations, with 70% of Individuals citing it as their primary podcast turn-off general.

Practically half of all listeners surveyed mentioned poor sound high quality made them cease listening.

^{Credit score: Podcastle}